Career change to law / accounting / business

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I have just had my second child in two years. Planning on 1-2 more in next few years. Currently a funded Art PhD student, but since Covid and my experience of my department have second thoughts about academia. During this and any subsequent maternity leaves, I am hoping to re-skill in a more practical direction. I’m good with numbers and have long wondered about accounting or something business/finance or law related. Most of all, I want to find a career that is stimulating, lucrative, reliable. I want to set a good example for my children, while also getting to spend some time with them, so work life balance is important.

Ideally I would not study for more than a year without a training contract or at least some hands on experience. I could balance a part-time training contract or course with my degree, which would help me transition financially. Before my children fully grown, my ambition is to gain enough experience to establish my own firm or business and do some flexible working.

Is this a realistic ambition?

I do not personally know anyone in these professions, coming from a fairly unconventional arty background, so would be very grateful to hear first hand experience and advice from parents practicing accounting / law / business, especially mums and career switchers. Thank you for reading.

Retrain as an IFA. Women do very well. Technical, interesting, people based.

Chartered IFA requires a level 6 qualification. You can work once level 4, but personally 6 to me is the min.

I retrained at 34

You could get a job as an accounts assistant to give you a feel of accountancy before starting exams.

If you do decide on accountancy there are a lot of exams to do. Also overtime is required from trainees in most firms.

Is your PhD an arts one or in art?

Law is probably not going to be recommended as it’s a long training process and has a bad rep for mums. It’s a lot like doing a PhD in a way.

I have been in accountancy for about thirty years and have worked at a fairly senior level. I would caution you to not underestimate the work involved in gaining the qualification, I did mine in my early 20s when I had no responsibilities and it was a lot of hard work juggling study with long hours. I cannot imagine doing it with three or four young children.

The second thing is that if you want to set up your own business in due course, you would realistically need to be able to get your own practice certificate at some point. And in turn this means you should look to join an accountancy practice rather than joining the finance team of a business. I am not sure that there are many accountancy practices that would offer such a position on a part time basis and they all tend to be quite demanding in terms of expectations over the speed of progressing through the exams and the hours involved. I actually think this second point is where you could be most underestimating what is involved.

All of these jobs will require a lot of studying

Trainee jobs in accountancy are as rare as hens teeth now unless you are a graduate and part time will be almost impossible to find

It takes an enormous amount of time and expense to train somebody so firms usually want full time

I have run my own practice now for over 20 years and we would not employ someone in the role you are looking for

I think it is unrealistic

Law potentially could work quite well, in that there are a number of qualifying pathways. On the solicitor pathway, you'd need to pass two sets of professional exams - SQE1 and 2 - plus have two years of supervised experience. Realistically, you're likely to have to do a graduate diploma in law to gain the relevant academic knowledge, but there are a number of places offering that part time or by distance learning.

The supervised experience could be as a paralegal, which would mean you would be working and earning.

It will take you several years, but it's not impossible.

As a current Phd student are you entitled to audit any course the university offers? That was certainly the case when friends were doing their Phds. If so, I would suggest sitting in on some law lectures as a first step, to see if it suits the way your brain works.

I'd also suggest looking at the cilex route. I don't know a huge amount about it, but it's a vocational pathway to law. There are also apprenticeship routes, but you're likely to need a graduate diploma in law to apply to one. https://www.thelawyerportal.com/study-law/legal-apprenticeships/solicitor-apprenticeship-guide/

In principle, I'd have rated accountancy as more likely to be family friendly in the long run than law.

However I agree with pp that I don't think your proposed timescale and balance of commitments is realistic. It's not something you can do quickly and casually.

There's been a drop in people applying to enter the profession so I'm not sure I'd agree that accountancy training contracts are "as rare as hen's teeth" or only available to graduates. It depends where you live though.

If you were able to negotiate a part time training contract that would extend the time it would take you to meet the practical experience requirements for qualification.

I would caution you against starting any of the exams without having practical experience alongside. That rarely works out well for people.

In my experience, the way to get a flexible professional job with good work-life balance is to work your backside off full-time in that profession before you have kids and make yourself so valued that they want you to stay and will agree to your part-time request. As far as I can see you don't want to study for more than a year with no income, and you want to be part-time and flexible from the start. Plus 1-2 more maternity leaves. Do you have a partner? Is s/he supportive? What are your childcare arrangements? This all sounds fairly unrealistic, sorry.

I think you'd struggle to get an accountancy role with no experience. I funded myself through AAT Level 2 and got a Finance Assistant job part way through. It's mind numbing but it actually took a lot of effort to even get anyone to take me seriously with a career change. My work isn't funding AAT level 3 but they have at least written a letter about my salary being below a threshold which should mean I get funding. Each level is a year and it's hard going studying as well as working. I think it's unrealistic to think you'll get anything good on 1 year's study. I do wonder though about moving from the role I'm doing into any more interesting financial roles and I think it will be very difficult despite the qualifications.

I’m interested to see what current lawyers have to see about law . I left the profession when I had children - I’d already watched colleagues struggling with combining kids and the responsibilities of private practice Training is academically tough , hard to combine with a sleep deprived maternity leave I would have thought .

I would personally look at how you can better use and sell the skills you have now , especially if you plan having 3/4 children .

You are underestimating the amount of effort involved in requslifying

Thanks everyone for your input and helpful pieces of advice. I hope my post hasn’t offended anyone who has been tirelessly pursuing one of these professions since their early 20s. I know it’s hard and I am very, some would say hopelessly, late to the party. Thanks for still humouring me.

Logistria, what you say about not starting a course without a traineeship definitely chimes with what I have seen online. The ACA/ICAEW which relies on work experience seems to be what most firms here in London are seeking, while qualifications offering flexible or remote study are much less in demand?

As far as the law path, I imagine I should restrict myself to a law conversion course rather than a graduate degree or solicitor traineeship. I have heard that the workload of solicitors and trainee solicitors is tremendous, and I imagine other legal roles might be more family-friendly. Is there anyone here with legal experience outside of being a solicitor?

So far my takeaway is that if I am to do this, I should wait until I finish having children. In the meantime, I could try to find work as an accounts assistant or paralegal to gain experience and get a better picture of roles that require so much time and study, and as a means to demonstrate that I am serious about this career change.

By the time my children are in full-time nursery/school, I mi have completed my PhD and be better able to work full-time. Those of you in senior positions, would you be more likely to train someone starting in their early 40s who can commit to full0time than someone in their a mid-30s who is looking for part-time? Or frankly neither?

Truthfully, neither, I think you are deluding yourself. I am senior finance, I would have no interest in a part time accountancy trainee and I would not be that excited about a 40 year old with an Arts PhD and no work history either.

Accountancy is not family friendly, some low paying unqualified account assistant roles might be, but if you want to go into accountancy practice or want to occupy anything beyond even a mid-senior finance position in a large organisation, it definitely is not.

Do you think these jobs will suit your personality? I had an English degree and went straight into a graduate traineeship in Accountancy. It was tough going but I qualified. The money was great but I found it absolutely soul-destroying and burnt out after about ten years. I wish I'd never done it really!

I also did AAT level 2 and I couldn’t get a job doing it at all. I tried and tried but it just never happened, everyone wanted experience which you can’t give if you have just been studying.

I'm an ACA. My (then big six) firm paid for us to have study leave three months a year for 3 years. The exams were pretty hard but I wasn't having to juggle work or kids.

In all honesty, most grad accountants use the qualification as a springboard into another career. 75% of my year left and most went into investment banking (including me). I worked into audit but doing actual accounting is something I'd find quite boring but each to their own.

I think also the issues is 1-2 more children. Let's say that you work 60%, and you take two years off on maternity leave in the next five years. That means that out of the 60 months in five years, you'd only work 21 of them. That's not terribly attractive if you're training/junior.

I can only speak about law but I’m afraid I think your aim there is unrealistic. The qualification process is very onerous and highly competitive. It’s also not generally very family friendly.

In your shoes, I’d be thinking about an arts admin role. Not as well paid but the work can be very interesting and you could potentially sell your experience so far as relevant.

I think it is unlikely you would get work as a paralegal when so many law graduates who can't get training contracts are after such roles especially now that 2 years qualifying employment as a paralegal would allow them to forego a traditional training contract and qualify by taking SQE1/2.

However if you were to take a PGDL which can be done online with some providers that may put you in a better position afterwards to get a paralegal position. But it would be difficult to do during a maternity leave unless you have access to childcare during that period.

Not law. Family friendly it isn’t. Super-competitive and many, many more applicants than training places available. My paralegal on £26k has a first and loads of work experience, works FT, no training contract. It’s bleak.

Actually, if law really appeals you might look into the GLS as a route to qualifying. Better hours, genuine work-life balance and PT options (at least post-qualification), less likely to consider your age a disadvantage, great pension and top quality work. But again, it’s not an easy thing to do and it’s very competitive.

www.gov.uk/guidance/government-legal-service-gls-legal-trainee-scheme-how-to-apply

Sorry it’s no longer called the GLS- I’m living in the past 😂

I made an account just to reply and give a positive story of switching to an accounting career post kids. I’m now fully qualified and working in industry.

I had two kids and a public sector background. I took a career break until my youngest started school during which I studied AAT L2 from books, then L3 from books plus the exams. I gained some volunteer experience while kids were in nursery.

I applied for jobs once child 2 started school and got a Finance Assistant role 3 days a week. I was mid 30s. It was a small growing company so I got good exposure and was promoted in post. Within 3 years I was doing everything up to creating month end accounts and pulling together the board packs. I passed a bunch of ACCA exams while there, using textbooks or online video lectures (free or low cost). Work paid those expenses.

I had a false start moving to a different industry, then covid happened so I stay home for the kids. Passed a few more exams and then got another job. Lower than previous but valuable experience. Got a more senior role last year while I finished my exams.

This role is more demanding and I work long hours at month end, year end more so, plus audit. I rarely worked late before. WFH helps and my husband picks up a huge amount of slack but he’s also working (& better paid). It is stressful and the kids hated wrap around childcare so covid and WFH were a blessing. They’re older now so I will be able to push my career ahead to more senior or specialised FP&A roles.

ACCA can be studied fairly cheaply and in your own time, but it’s tough. 13 exams total. First 4 easier, a month to study. The rest 3 months per exam if you have a job. The last month of revision I gave up any weekend outings/family time, I passed first time. The two optionals were super tough and incredibly stressful.

I’d absolutely take a chance on someone like you if you get AAT L2/3 (or ACCA x 3 papers) and can demonstrate transferable admin skills - data entry is a huge part of it and excel is key to progression. Accuracy and speed plus being logical and proactive are key. The lower jobs are boring data entry, and higher jobs will always have boring tasks so can you motivate yourself despite this? Many of our juniors struggle to do so. Pay is going up but won’t be highly paid for several years and after at least part qualifying.

I would query why you’re continuing the PhD (unless close to finishing) and why you think accountancy is the right option for you - why does it appeal. It is very different from law. I’d want you to be sure and committed.

Having 3/4 kids is a lot more work than 2, how will you juggle it all? Is your partner supportive, is there on tap family support or just lot of money for childcare? Factor in the commute - I work close to home but London traffic can take an hour if roadworks/train strikes.

Early on, another school mum told me to go back to my old career as accountancy was too demanding with kids. She was a lawyer. It enrages me, but it also motivated me and I’m now a fully qualified accountant. Only you know if you can make it, and you’ll only know by giving it a go.

I started here -
AAT L2 Basic Accounting 1

ACCA can be studied fairly cheaply and in your own time, but it’s tough. 13 exams total. First 4 easier, a month to study. The rest 3 months per exam if you have a job. The last month of revision I gave up any weekend outings/family time, I passed first time. The two optionals were super tough and incredibly stressful.

You cannot qualify as an ACCA without meeting the practical experience requirements, which include 3 years FTE work experience and 9 performance objectives. So whilst you could self-fund, it would be a fool's errand without a relevant job as well.

To my knowledge, the only UK body that awards accountancy "qualifications" without a practical experience requirement is AAT. Hence all the people who've sunk time and money into AAT without being able to secure a role afterwards.

All the other routes include practical experience requirements because you won't develop the necessary skills otherwise - CAT, ATT, CTA, ACCA, ACA, CA, CIMA.

Same as you couldn't become a nurse without nursing placements.

Don't do the exams without a relevant job. Find a job first and train in the job.

My story shows an example journey to demonstrate how it could be done.

At no point did I study ACCA without having experience, nor suggest, it aside from the first 3/4 papers max. I’m ACCA qualified so jumped all the hoops mentioned, while a mum and part time for 3 years - meant I took longer to reach the work experience requirements but I took 5/6 years to do all the exams, first time passes every time. I did it in my own time rather than a training scheme so flexible when it suited the family - eg moving house and renovating.

On the contrary, I caution junior staff not to study too much too soon. Experience (and attitude) matters more to me when recruiting. Older candidates appeal as life experience can be helpful.

Look for small companies or start ups rather than practice or large businesses to get more exposure in a shorter time.